Analysis of ICO Fr8 Network
Fr8 Network is a solution for truckers, suppliers who need to freight their cargo, truck brokers and freight factors. This decentralized marketplace for all market participants make possible secured payments with guarantee of real freight, clear reputation system and minimum fees to all participants between supplier and trucker. Additionally, there will be added value services like software solutions, loyalty programs, financial services etc.
Founder believes that Fr8 Network will solve main industry issues:
- Limited data transparency
- Poor incentive alignment
- Price manipulation
- High costs of coordination
- Theft and fraud using different schemes
- High cost of money used by truckers for closing financial issues between the payments
- Shrinking Driver Supply
- Poor capacity planning.
- Roadmap was not presented.
Business plan section contains only token distribution (40% for distribution) and funds received usage (R&D 50%, 40% on adoption, marketing and partnerships). No more detailed information about business pla was presented.
Marketing strategy presented here in details: creating demand via partnerships with shippers, distributers and brokers (i.e. with usage of token distribution); creating supply via partnerships with carriers and membership in Blockchain in Transport Alliance. As initial market founders selected US, but there are plans to international expansion. But, all partnerships were not proved, and there are no numbers of planned sales and their dynamics.
Additionally, Lewisco Holdings was declared as one of strategic partners and national distributer of general merchandise and grocery product. But, according their own website, they are only a buyers of salvage from manufacturers without any information of management.
Team looks incomplete because executive part of it completes from CEO, CTO and COO only; and probably CEO has a fake information in its LinkedIn profile about Lewisco Holdiings company’s businesses.
The Vision of the Market
Looks like founders have a deep knowledge about market issues and ways to solve it via blockchain product with reputation system and secured deals.
Understanding of the Target Audience
The target audience of the project is all the freight market participants: truckers, suppliers, brokers and freight factors. As initial market, founders select United States
Competitive advantages of the blockchain solution over traditional services are secured database with powerful search engines, advanced reputation system, increased utilization rates and lower costs.
Project strong sides: clear understanding of competitive advantages; described marketing strategy; probably existing partnerships in industry.
Project weak sides: lack of roadmap and business-plan; incorrect information in founders’ profile.
So our position is negative.